Global Payments, InterOil, RIM, ZaZa: U.S. Equity Movers
Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 4 p.m. in New York.
Cabot Oil & Gas Corp. (COG) climbed 3 percent, the most since March 23, to $31.17. The 4.8 percent drop in the oil and gas company’s shares yesterday after the occurrence of a flash fire at the Williams Partners LP-operated Lathrop compressor station in Pennsylvania was “overblown,” JPMorgan Chase & Co. said in a note.
Cascade Corp. (CASC) fell 9.5 percent, the most since Sept. 1, to $50.12. The materials-handling equipment maker reported fourth-quarter sales that missed analysts’ average estimate, data compiled by Bloomberg show.
Finish Line Inc. (FINL) dropped 16 percent, the most since December 2008, to $21.22. The athletic apparel retailer projected 2013 earnings per share growth in the “mid-single digits,” falling short of the average analyst estimate of 13 percent.
GasLog Ltd. (GLOG) (GLOG US) fell 11 percent to $12.41 on the first day of trading. The liquefied natural gas shipping company based in Monte Carlo, Monaco, priced its U.S. initial public offering below the marketed range, selling 23.5 million shares for $14 each.
Global Payments Inc. (GPN) fell 9.1 percent to $47.50 before trading was suspended. The electronic-transaction processor sank as the credit-card industry investigated a data breach that affected firms including MasterCard Inc. The Wall Street Journal reported that the Atlanta-based firm was hit by a security breach that may have put 50,000 cardholders at risk.
ImmunoGen Inc. (IMGN) advanced 4.7 percent, the most since Feb. 23, to $14.39. Roche Holding AG’s experimental breast-cancer drug T-DM1, developed with technology it licensed from the Waltham, Massachusetts-based company, delayed the disease worsening in a late-stage patient study, moving the company closer to applying for regulatory approval this year.
InterOil Corp. (IOC) declined 5.5 percent to $51.41, the lowest price since Dec. 30. The natural-gas explorer and oil refiner said delivery of drill stem testing equipment has been delayed at a well in Papua New Guinea.
InvenSense Inc. (INVN) (INVN US) fell 7.7 percent to $18.10, the lowest price since March 9. The producer of gyroscopes for consumer electronics was cut to perform from outperform at Oppenheimer & Co., citing increased competition. The rating means that Oppenheimer expects the stock to perform in line with the S&P 500 within the next 12 to 18 months.
Jones Group Inc. (JNY) rallied 8.2 percent to $12.56, the highest price since Aug. 3. The maker of Nine West shoes was raised to buy from neutral at SunTrust Robinson Humphrey Inc.
Research In Motion Ltd. (RIM) rose 7.1 percent, the most since Jan. 25, to $14.70. The maker of BlackBerry smartphones said it plans to refocus on the business market and review strategic options after struggling to compete against Android devices and Apple Inc.’s iPhone.
Wyndham Worldwide Corp. (WYN) rose 3.1 percent to $46.51, the highest price since the company went public in 2006. The franchiser of Days Inn hotels and Super 8 motels was raised to buy from neutral at Goldman Sachs Group Inc.
Xyratex Ltd. (XRTX) declined 11 percent, the most since April 1, to $15.91. The provider of data storage and network technology reported first-quarter sales of $295.7 million, trailing the average analyst estimate of $316.6 million in a Bloomberg survey.
ZaZa Energy Corp. (ZAZA) (ZAZA US) surged 19 percent, the most since April 21, to $4.67. The oil and natural gas agreed to buy a 75 percent working interest in some leases in Texas from Range Resources Corp., according to a regulatory filing.
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